Notice of Bond Resolution subject to Permissive Referendum
NOTICE OF BOND RESOLUTION SUBJECT TO PERMISSIVE REFERENDUM
The resolution, a summary of which is published herewith, was adopted on October 25, 2022 and is subject to permissive referendum in accordance with Section 9-900 of the Village Law.
SUMMARY OF BOND RESOLUTION SUBJECT TO PERMISSIVE REFERENDUM
A Bond Resolution adopted by the Village Board of the Village of Dundee, New York (the “Village”) on October 25, 2022 authorizes the issuance of bonds and other obligations to finance the cost of undertaking a project (the “Project”) consisting of the construction of improvements to the Village waste treatment system. The estimated maximum cost of the Project is $19,298,000. Pursuant to the Bond Resolution, the Village is authorized to issue up to $19,298,000, or such lesser amount as may be necessary, of serial bonds or any bond anticipation notes, including renewals of such notes and is further authorized to levy a tax to pay principal and interest on said obligations and apply, if and when available, state and/or federal assistance available or any revenues available for such purpose from any other source. Undertaking the Project is approved. The bonds and notes authorized by the Bond Resolution may be issued to the United States Department of Agriculture, Office of Rural Development, or any of its related offices or agencies, the New York State Environmental Facilities Corporation under any of its revolving fund programs or any purchaser in accordance with the provisions of the Local Finance Law. The plan for the financing the cost of the Project shall be (i) the issuance of up $19,298,000, or such lesser amount as may be necessary, of serial bonds or any bond anticipation notes, including renewals of such notes, of the Village and (ii) the application of state and/or federal assistance available or any revenues available for such purpose from any other source. Under the Local Finance Law, the Project has a period of probable usefulness of 40 years. Such resolution shall be kept available for public inspection in the Village Clerk’s Office during regular business hours for thirty days following this publication.